Coldstream Capital Management Inc. bought a new position in shares of Cognex Co. (NASDAQ:CGNX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,081 shares of the scientific and technical instruments company’s stock, valued at approximately $258,000.
Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc grew its holdings in shares of Cognex by 0.7% during the third quarter. Vanguard Group Inc now owns 14,774,139 shares of the scientific and technical instruments company’s stock worth $824,693,000 after purchasing an additional 101,127 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cognex by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 8,760,670 shares of the scientific and technical instruments company’s stock worth $338,776,000 after purchasing an additional 231,403 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Cognex by 73.5% during the first quarter. Janus Henderson Group PLC now owns 5,351,993 shares of the scientific and technical instruments company’s stock worth $272,203,000 after purchasing an additional 2,268,034 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Cognex by 2.6% during the first quarter. Eagle Asset Management Inc. now owns 3,774,876 shares of the scientific and technical instruments company’s stock worth $191,990,000 after purchasing an additional 95,161 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Cognex by 3,621.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,422,295 shares of the scientific and technical instruments company’s stock worth $89,000 after purchasing an additional 3,330,340 shares during the last quarter. Institutional investors own 94.52% of the company’s stock.
CGNX has been the topic of several research analyst reports. Zacks Investment Research upgraded Cognex from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, April 17th. BidaskClub cut Cognex from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price (up previously from $47.00) on shares of Cognex in a report on Tuesday, February 12th. Gordon Haskett started coverage on Cognex in a report on Wednesday, April 17th. They set a “hold” rating and a $54.00 target price on the stock. Finally, ValuEngine upgraded Cognex from a “sell” rating to a “hold” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $52.20.
In related news, insider John J. Curran sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $49.01, for a total value of $2,450,500.00. Following the transaction, the insider now owns 12,500 shares in the company, valued at $612,625. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.
Cognex stock opened at $42.79 on Thursday. The stock has a market capitalization of $7.31 billion, a P/E ratio of 34.91, a PEG ratio of 2.80 and a beta of 2.03. Cognex Co. has a 12-month low of $34.88 and a 12-month high of $59.18. The company has a current ratio of 8.31, a quick ratio of 7.46 and a debt-to-equity ratio of 0.01.
Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Monday, April 29th. The scientific and technical instruments company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.16 million. Cognex had a return on equity of 18.90% and a net margin of 26.55%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. As a group, equities analysts predict that Cognex Co. will post 1.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, May 16th. Cognex’s dividend payout ratio is 16.13%.
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Cognex Corporation provides machine vision products that capture and analyze visual information in order to automate tasks primarily in manufacturing processes worldwide. It provides machine vision products, which are used to automate the manufacture and tracking of discrete items, including mobile phones, aspirin bottles, and automobile tires by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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